In 2019 EngagedX began incubating a groundbreaking idea for carbon accounting software – based on the simple principle that every organisation's indirect emissions are another organisation's direct emissions, and that connecting these data through supply chains makes emissions accounting easier and more accurate. In 2020, EngagedX's founder, Karl H Richter, in collaboration with Jenni Inglis of Vie (for Life) Ltd, entered the Scottish Government's CivTech innovation challenge to answer the question – "How can technology help manufacturing businesses decarbonise while building resilience and strengthening competitive advantage?" Their novel approach won the competition and was featured at COP26, leading to the establishment of iSumio to develop and commercialise the vision.
Richter and Inglis, working under the brand iSumio, secured a revenue contract with the Scottish Government in 2021 to build a prototype carbon accounting platform, which was released in 2023 as Neoni®. The Neoni® solution achieves the pinnacle of the Greenhouse Gas Protocol while complying with ISO standards, the Science Based Targets initiative, PCAF, and E-Ledger principles.
The Neoni® methodology introduces a paradigm shift in emissions tracking and is attracting significant international recognition. The Bank for International Settlements signposts to iSumio in their October 2024 report Empowering carbon accounting: from data to action, referencing iSumio and the Neoni® methodology as an exemplar in carbon accounting approaches alongside the E-Ledger concept developed by Harvard and Oxford academics. iSumio is recognised in subsequent academic literature, including publications in the Latin American Journal of Central Banking. This validates our Neoni® methodology as able to deliver carbon accounting data that is more statistically rigorous and auditable than traditional approaches.
In 2025, the iSumio brand was repositioned as the software development studio of EngagedX, maintaining continuity with its award-winning heritage and international recognition.
Today, iSumio is building a portfolio of software solutions. This includes Neoni® for carbon emissions accounting, Instans for distributed data infrastructure, and the Lorg platform leveraging agentic AI and web search tools for finding the emissions footprint of anything (if it has been published on the web, Lorg will find it). Each initiative shares a common mission – to help organisations know all kinds of value as easily as price, enabling a fairer economy and more prosperous world.